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Flag trading the trend

  • #4,161
  • May 3, 2011 5:15am May 3, 2011 5:15am
Having coffee and cheese on toast; opened up the comp and a nice trade appeared.
To be and nearly there on eu.

UPDATE: OUT AT A PIP FROM TARGET
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  • #4,162
  • May 3, 2011 6:41am May 3, 2011 6:41am
some nice setups, with some heat though...
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  • #4,163
  • May 3, 2011 6:54am May 3, 2011 6:54am
another one, didn't take it due to the time
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  • #4,164
  • May 3, 2011 7:40am May 3, 2011 7:40am
Quoting Divergence
well at least we know we are in uptrend as it tries to capture 4900 so the move down if it moves down will be its higher low pt
Div, hello. Any plans for a new flow chart with the new trading rules? Perhaps to avoid confusion for newbys like myself, Div could start a new thread and name it something like HH-LL Simplified.
P.S. Been reading a lot on the Trading forums recently and in my opinion, this and the Niceguy thread are absolutely THE BEST. I have learned so much really GOOD stuff here. You have also helped me to UNLEARN a lot of the endless and distracting junk that accumulates over time. I sense that you guys may have taken this concept about as far as it can go. I HOPE you will keep the thread going for a while for guys like me. Keep up the GREAT work, please.
  • #4,165
  • Edited 8:55am May 3, 2011 7:44am | Edited 8:55am
Nice reversal trade after 123 but not technically correct; there was a 123 just before entry that was ok (see post #4174).
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  • #4,166
  • May 3, 2011 8:04am May 3, 2011 8:04am
Quoting gtrade
Nice reversal trade after 123
nice gtrade, saw that one too, but i remember Div. said he's not comfortable with 123 if point 1 is more than 20pips
  • #4,167
  • May 3, 2011 8:06am May 3, 2011 8:06am
Gtrade - I do not see a set-up. It looks like a good trade, but did'nt you break your RSI Dont Buy rule?
  • #4,168
  • May 3, 2011 8:09am May 3, 2011 8:09am
Gtrade, never mind, I do see the 123. Nice call.
  • #4,169
  • May 3, 2011 8:11am May 3, 2011 8:11am
Do you guys generally avoid these big bar signals (EU, EJ, AU)?
  • #4,170
  • May 3, 2011 8:18am May 3, 2011 8:18am
Quoting gtrade
Nice reversal trade after 123
I see the 123, but the s u b is more than 2.4 pips from the ma on mine.
  • #4,171
  • May 3, 2011 8:23am May 3, 2011 8:23am
Quoting InspClousteu
Gtrade - I do not see a set-up. It looks like a good trade, but did'nt you break your RSI Dont Buy rule?
That was an old rule but we don't use that now; i'll have to remove that from the chart.
  • #4,172
  • May 3, 2011 8:30am May 3, 2011 8:30am
2 nice trades this am
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  • #4,173
  • Edited 8:43am May 3, 2011 8:32am | Edited 8:43am
Quoting tb62
I see the 123, but the s u b is more than 2.4 pips from the ma on mine.
Correct; technically the 123 was just before which would have been OK but i decided to take that based on experience.


Below: the 3 point candle was only a fraction of a pip lower compared to 2 point candle but the structure was good for a long.
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  • #4,174
  • May 3, 2011 9:40am May 3, 2011 9:40am
see how that rule saves u from 3 losses in a row
  • #4,175
  • May 3, 2011 9:47am May 3, 2011 9:47am
1st peak had divergence, so that's what clued me in on not taking any longs
  • #4,176
  • May 3, 2011 10:00am May 3, 2011 10:00am
Quoting Divergence
see how that rule saves u from 3 losses in a row
Hi Div,

Could you please show on chart which peaks exactly do you mean?

thanks,
chris
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #4,177
  • May 3, 2011 10:11am May 3, 2011 10:11am
Hi guys,

I just had a loss on eu... Could you tell me if that was my bad decision or was it taken according to the rules?
Personally I think that everything lined up.

thanks
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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #4,178
  • May 3, 2011 10:14am May 3, 2011 10:14am
we were in an uptrend, only take a counter-trend trade off a 123
  • #4,179
  • May 3, 2011 10:23am May 3, 2011 10:23am
3rd 10 pip trade today took 1/3 of normal trade do to the time of day.
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  • #4,180
  • May 3, 2011 11:30am May 3, 2011 11:30am
Quoting gtrade
Correct; technically the 123 was just before which would have been OK but i decided to take that based on experience.


Below: the 3 point candle was only a fraction of a pip lower compared to 2 point candle but the structure was good for a long.
It might be an idea not to post trades that do not follow Div's rules exactly then any new guys are not lead astray I'm sure there are other forums for off plan trades.
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